I recently read an article in the Telegraph that said that according to security analysts, terrorist networks use online gambling websites to launder money for attacks. Being interested in anything to do with the Internet or online companies for that matter, I decided it was worth doing some research on the subject.

Here are some interesting facts that I found which I thought would be of interest to online companies in Gibraltar which may or may not already be aware:

Online Gambling websites can be used to launder money by transferring illegal funds to an inside source and by playing until the target amount is spent.

By programming online gaming software to identify certain passwords or usernames and to automatically deduct a percentage of the deposit amount and disguise it as a gaming loss.

An online gambling employee could arrange to transfer illegal funds to a gambler by rigging the game until the targeted amount is won.

Other tricks that online gambling companies should look out for is to open an account under a false name with the online company and deposit the illegal funds. Then so that the online administrators do not suspect any dodgy play, they deliberately lose a few games and then request the account be close and withdraw the balance.

Another method that could be used is to open several online gambling accounts in various jurisdictions and deposit the maximum amount in each account and as above after a few losses withdraw the balance and transfer the remainder of the funds to a credit institution or back as legitimate winnings.

Cookie and Privacy Settings

How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, you cannot refuse them without impacting how our site functions. You can block or delete them by changing your browser settings and force blocking all cookies on this website.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visist to our site you can disable tracking in your browser here:

Click to enable/disable google analytics tracking.

Other external services

We also use different external services like Google Webfonts, Google Maps and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Click to enable/disable google webfonts.

Google Map Settings:

Click to enable/disable google maps.

Vimeo and Youtube video embeds:

Click to enable/disable video embeds.

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.